Juspay Raises $60M to Boost Global Expansion

Juspay, a Bengaluru-based payment infrastructure provider, has raised $60 million in a Series D funding round led by Kedaara Capital, with participation from existing investors SoftBank and Accel. This round includes both primary and secondary investments and aims to accelerate Juspay's global expansion and enhance its AI capabilities. Juspay, founded in 2012, offers a payment orchestration platform called Hyperswitch, which processes over 200 million transactions daily with an annual total processed volume exceeding $900 billion. The company plans to use the funds to expand its presence in markets like the UK and US, and to improve its AI-driven solutions for workforce productivity and merchant experience. Despite its growth, Juspay faces competition from industry peers like PhonePe, Razorpay, and Paytm. The company is committed to developing open-source, interoperable payment systems as part of its next growth phase.